Along with the company reporting double-digit-percentage gains in overall revenue, net income and adjusted EBITDA, OPENLANE’s marketplace unit sold 19% more vehicles in the first quarter than it did a year ago, with both dealer and consignor sales thriving. OPENLANE is already seeing a lift from increased lease returns, a trend it expects to continue […] [Read More]

We continue our episodes of the Auto Remarketing Podcast originating from the Live Stage, which was sponsored by SYCN Auto Logistics, during the Used Car Industry Summit in Miami this spring. Agile Auto founder and CEO John Ellis acknowledged inventory management might be the most difficult part of dealership operation nowadays. So, Ellis cherry-picked some […] [Read More]

Greater Milwaukee Auto Auction recently hired Brady Brown as its fleet-lease manager. Brown possesses 26 years of automotive experience. Before joining Greater Milwaukee AA, Brown was the general manager of a nearby Cadillac dealership for the past 16 years. “Brady is very personable and easy to work with, has a mind for detail, and prioritizes […] [Read More]

Cox Automotive has parted with one of its international businesses. UFODrive Group, parent company of UFOFLEET, announced it has acquired FleetMaster from Cox, a deal UFOFLEET said accelerates its mission to “reshape the $500 billion fleet and mobility market.” UFOFLEET plans to equip and scale FleetMaster’s established platform for rental, leasing and retail, with “intelligent […] [Read More]

Black Book offered two separate looks at the wholesale market this week. The first observation was its weekly installment of Market Insights, which showed wholesale values remained unchanged while auction conversion rates edged higher to 64%. The other assessment explained three reasons why the ongoing surge of gas prices above $4.50 per gallon is creating […] [Read More]

In March, auction sales reached their strongest point since July 2020. Last month was even stronger. According to AuctionNet data from the National Auto Auction Association, wholesale auction sales climbed 2% month-over-month in April, following March’s near-six-year high. Led by off-rental units, there was a 20% year-over-year hike in wholesale sales for commercial consignors in […] [Read More]

IAA’s connection with its newest partner really clicked. The global digital marketplace has joined with Click-Ins, a provider of artificial intelligence vehicle damage detection, in an integration that embeds Click-Ins’ automated damage detection technology into IAA’s Inspection Services platform for insurance clients. The collaboration is designed to have Click-Ins’ technology analyze vehicle condition and damage […] [Read More]